๐๐ญ๐ญ๐๐ฆ๐ฉ๐ญ ๐ : ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐ ๐ ๐๐ฒ๐ฉ๐๐ซ๐ฅ๐จ๐๐๐ฅ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง [๐๐๐๐ซ: ๐๐๐๐]
Our second entrepreneurial endeavor aimed to address the need for a hyperlocal delivery application catering to students in hostels ๐ซ. Situated in a hill station, our college area lacked accessible markets open late into the evening, leaving students with limited options for obtaining essential items during nighttime hours ๐. This necessity stemmed from our own experiences of needing supplies late at night and having to travel far into the city to procure them.
Drawing from the lessons of our previous venture, we adopted a methodical approach to building our startup. We began by conducting market research ๐, distributing Google forms within college email groups to gauge the demand for such an application and to understand the specific needs of students. While the response volume didnโt meet our initial expectations, it provided enough validation to proceed with the idea.
Our plan was straightforward: develop a user-friendly mobile application through which students could conveniently place orders for their requirements ๐ฑ. Initially, we relied on a small network of friends with vehicles to handle deliveries ๐. Though the initial feedback from our trial runs was mixed, we remained optimistic about the appโs potential, envisioning a future with a comprehensive inventory to enhance its utility.
However, as we delved deeper into the logistics, we recognized the challenges of scaling the business โ๏ธ. Setting up an inventory within the hostel premises posed logistical and financial hurdles, including the need for HVAC systems and significant capital investment ๐ฐ. Faced with these constraints, we made the difficult decision to pause the project.
๐ ๐ข๐ง๐๐ฅ ๐๐ก๐จ๐ฎ๐ ๐ก๐ญ๐ฌ ๐ค
๐๐๐๐ฌ๐จ๐ง ๐๐จ๐ซ ๐๐๐ข๐ฅ๐ฎ๐ซ๐: We overlooked logistics and lack of inventory infrastructure with no flow of liquid capital leaded us here.
๐๐๐ฌ๐ฌ๐จ๐ง๐ฌ ๐๐ซ๐จ๐ฆ ๐๐๐ข๐ฅ๐ฎ๐ซ๐: We understood the importance an inventory plays in a delivery or an e-commerce business ๐ฆ. We learned how being farsighted and looking at an inventory solution beforehand could have helped.
Nevertheless, the experience was not without its valuable lessons. We gained insights into inventory management, the importance of local delivery resources at scale, and the necessity of adequate funding ๐ก. Armed with these lessons, we remained undeterred in our entrepreneurial journey, poised to apply our newfound knowledge to future endeavors.
